Friday, August 16, 2013

Wayne County's woes keep widening

Wayne County's woes keep widening | The Detroit News:
"Worse, Ficano’s county is hurtling toward the beginnings of a state takeover, evidently the only kind of reckoning understood by clueless politicians south of Eight Mile.
Anything less is license to practice business as usual — development boondoggles (county jail, Pinnacle Race Track), expensive early retirement packages, local and federal investigations.
We’ve seen this movie before in southeast Michigan: 
Wayne County’s credit ratings are tanking. 
Its budget deficits are widening. 
Its pension fund for county retirees is woefully underfunded.
And what passes for financial management has the attention of the Treasury Department in Lansing."

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